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ADJUSTABLE RATE RIDER (I Year Treasury Jnd...Rat. Cop.) 88- 107030 THISADJiJSTABLERATERIDERI.mad.this 21 day of Decl3mber ,19~, and II Incorp!lrated IDLD and shall be deemed to unmd and supplement the Morcsaac, Deed of Trull, or Security Deed (the "Security Instrumezl1t1) of ~ u-me rtau: liven by .be undmlaned (the uBcrrowerU) to secure Borrower', AdJwtablc Rate Note (the UNote") to t.t~ FEDERAL SAVlW.i.'H!..1~'AN ASSOCIATION OF ORAND ISLAND, NEBRASKA (the "Lencler") of th. ume date and eovq Ih. propeny described 1n-,", ilcc:urily Instrument and located al: 2023 West 11th Avenue, Grand Island, Nebraska 68803 (Propeny Address) TbIs .0" eo...... provIIIoaa aUmrt.. lor elIa.... I. ID1 1......, nle aad ID1 1IlOIIW)- pa7llleata. Thb Dote also lladlllhe .moaal my tnterat rate caD wale I. la, ODe time aad also IIIe mlnlm.....d tile _ nle' mUll...,. ADDITIONAL COVENANTS. ]n addJdon to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree: as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 11 .0 Ofo. Section 4 of the Note provides for chanses in the interest rate and the monthly payments, as follows: 4. INTEREST RA TE AND MONTHL Y PA YMENT CHANGES (A) Clwlle Dales The interest rate J will pay may change on the first day of January , 19 ~,and on that day every h,ll::' 1 tiP months thereafter. Each date on which my interest rate could change is called a uChange Date. U (B) The ,..... Beginning with me first Change Date. my interest rate will be based on an Index. The "Index" is the weekly avenge yield on United States Treasury securities adjwtcd to a constant maturity of I year, as made available by me Federal Reserve Board. The most recent Index 1lgUI'e available as of the date 45 days before each Change Date is called the "Current Index. " If the Index is no longer available. the Note Holder will choose a new index which is based upon comparable information. The Nole Holder will give: me notice of this choice. (e) CoIcnladoo of Clwlaes Before each Chang. Dat., the Note Holder will ca1eu1ate my new interesl rat. by adding three and one /hal f percentage points ( ,E; OJo) to the Current Jndex and rounding to the nearest I 18th of IOJo, subject to the limits stated in Section 4(0) below. This rounded amount will be my new interest nile until me next Change Date. The Note Holder will then detennine the amount of the monthly payment that would be sufficient to repay in full the principal I am expected to owe on that Change Dale in substantially equal payments by the maturity date at my new interest rate. The result of this calculation will be the new amount of my monthly payment. (0) UmI11 DO .......IRa.. CIIaaaes Th. interest rate I am required to pay al the fIrSt Chang. Date will not be grealer than 13.0 'I'D or less than ( B,Q Ofo. Thereafter. my inletest rate wiU never be increased or decreased on any single Change Date by more than tWD oercent i. . f{fm the rate of interest I hive: been paying for the preceding twelve months. The minimum interest rate on this loan will never be less than ~ . Oft and the maximum inlcrest rate will never be greater than 1 R n ev.. (E) EffeeUn Date 01 Cb..... My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly paymeDt beainnin8 on the rlfSt monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) NolIce of Cbaaaes The Note Holder will mail or deliver to me a notice before each Change Date. The notice will advise me of: (i) the new inlcrest rate on my loan as of the Change Date; (il) the amount of my monthly payment following the Change Date; (iD) any additional matten which the Note Holder is required to disclose; and (iv) the address of the association you could contact regarding any questions about the adjustment notice. B. CHARGES; UENS Uniform Covenant 4 ofth. Security Instrumenl is amended to read as follows: .t. Cbaqa; UeIII. Borrower shall pay all taxes. B55C5sInCDts, and other charges, fines. and impositions attributable to the Property which may attain a priority over this Security Instrument, and leasehold payments of sround rents, if any, in the manner provided under parqraph 2 hereof or, if not paid in such manner, by Borrower making payment, when due, directly to the payee thereof. Borrower shall promptly furnish Lender all notices of amounts due uru!er this paragraph, and in the event Borrower shall make payment directly, Borrower shall promptly fUl'tlish to Lender receipts evidencing such payments. Borrower shall promptly discharge any lien which has priority over tbiJ Security Instrument; however, Borrower shall not be required to discharse any mch lien so Ions as Borrower: (a) shall aaree in writin& to the paJIDeDt of the obliplion Ie<lUed by such llen in the = acceptabI.lo Lender: (bl ,hall in good faith eontesl such lien by, or defend apinst enfor<:emenl of such lien in, lepl proc:eediogs which in the opinion of !.alder operate 10 prevent the enforcemenl of the lien or forfeltuno of the Property or any pan thereofj or (c) shall secure from the bolder of such lien an agreement in a form satisfactory to Lender subordinatina such Den to this Security IDstrum<uL If Lender determines that all or any part of the Property is subject to a lien which may attain a priority over this Security Instrument. Lender shall live Borrower a notice identifyins mch lien. Borrower shall satisfy such lien or take one or more of the actions set forth above within ten days or the givilll of the notice. Co NonCE U~form Covenanl 14 of the Security Imtrumenl is amended to read as follows: 14. NoIke. Except. for any notice required under applicable law to be given in another manner. ra) any notice to Borrower provided for in this Se:uriry IDltrumml shan be &ivai by deliverina it or by mail.iq it by nnt clau mail to Borrower at the Property Addns! or It such other address u Borrower may dCIi$Datc by DOtlcc to Lc:ndc:r Jli provided herein. uu:I (b} any notice to Lender EhalI be Iiv~ by fint clao mail 10 Lcnda-'s addreu slated herein or to such other addreu u Lender may desipale by notice 10 Borrower as pro..ided herein. Any notice provided for in lhi" 5ecurit'1lmtrumcDl m.u be! deemed to have been &ivcn.IO Borrower or Lender when. Jiven in the manner desipaled herein.